Sometimes, saving a buck now will cost you in the future [source: Salant]. A builder who gives you a lower cost per square foot may seem like a bargain, but sometimes that can portend shoddy work [source: Salant]. When you're looking at quotes, it's usually best to go with a middle of the road estimate from someone who gets good reviews on sites like Kudzu and Yelp. You're not really saving money if you have to redo the work in just a few years.
The same thing goes for sourcing materials. If you're redoing your kitchen, don't choose the cheapest appliances. Read reviews and choose efficient, quality appliances that will last longer and help reduce your energy and water bills. Opting for quality may cost more up-front, but how much did you really save if you have to replace or repair those kitchen cabinets every few years?
Saving money is great, but home construction is an investment. When you're trying to cut back on costs, it's sometimes easy to forget about your home's resale value. Laminate may look good on paper, but springing for tile or hardwood flooring makes your home more salable down the road.
Whether you're renovating a single room or considering some major home construction, the key to saving money is considering your costs at every step of the project.